Monday Market Update: Biggest Median Home Price Increases (None Are In CA!)
Home price increases: they could be worse (and in these cities - they are!).
The first quarter of 2021 is behind us – and there is much to look forward in real estate and beyond ahead of us! It’s true that we have seen dynamic and surging home purchase demand in the majority of Silicon Valley. You’ve no doubt heard things like ‘this is crazy!’ or ‘only in the Bay Area’. But in reality, home price increases are far more dramatic in many parts of the United States.
The National Association of Realtors (NAR)® just released the infographic below which depicts home price increases above 30% from Q1 of 2020 to Q1 of 2021 in several cities. This data also reveals the 10 US cities in which home prices have risen the most – and none of them are in California, much less Silicon Valley.
For comparison, we pulled the San Mateo County median home prices from Q1 of 2020 ($1,600,000) to Q1 of 2021 ($1,850,000) and calculated an increase of 16%. Check out the cities above with the largest percentage increases in median home sales price below. Do any of these surprise you?
Please feel free to reach out if you have any questions about our local real estate market and the demand that is surging across the nation.
All my best,
Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
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